After landing $1 million in investment, Dallas startup Take Command Health has expanded its health insurance platform to five additional states in four months. And while it’s reaching new markets with its software that connects consumers to personalized plans, it’s gearing up for inevitable change under a new presidential administration.
“We’re doing our best to remain flexible and nimble, so we can remain without high overhead,” said CEO Jack Hooper, who said the company is focused on technology and automation. “So if the market does change, and it almost certainly will now, we’re well positioned to be the consumer advocate and adjust accordingly.”
The company, founded by Hooper in 2014, now serves Florida, Georgia, Wisconsin, Michigan, and Arizona, in addition to Texas. The new markets are expected to help the startup quadruple its user base and its revenue, which totaled $100,000 last year. The growth comes after the company closed its latest round of funding, which was raised entirely by local investors including Sterling Private Capital and Swank Capital of Dallas, and Arlington-based PitchPick.
“We had launched this concept and had really no idea how people were going to interact with it,” Hooper said, adding that keeping up with the changes in the industry is increasingly more challenging for consumers. “The individual market is in quite a bit of turmoil.”
But so far, the feedback has been encouraging, Hooper said.
Take Command’s platform is like the TurboTax for healthcare insurance. The software guides consumers through a series of questions to lead them to the most affordable plan. The platform includes private insurance carriers, health exchanges, and faith-based providers. The company gets a cut on the commission for every plan it sells.
It’s also working on partnerships with new health service companies like Teladoc to create a small business membership plans that will include telemedicine coverage. In this case, employees of businesses that buy in can pay $15 to get unlimited calls to a doctor.
While the company is working on scaling its business, it also is readying for any changes that could come from healthcare reform under a Donald Trump administration. But this wouldn’t be the first time it had to adjust.
Hooper founded the company after struggling to find health insurance for his family after his wife got pregnant with twins. While in grad school, Hooper, with help from his professors at the Wharton School, created a database to understand out-of-pocket cost for consumers under different healthcare plans. He quickly recognized a business opportunity.
“We initially thought we were going to sell it as a white label to other companies,” he said. “Since then, we’ve overhauled and tried to understand what … helps make people make the best decisions.”
Thus, the new Take Command Health evolved to personalize the experience as well as offer health-related content to provide more resources to tackle health questions. And as commission drops for traditional brokers, consumers are suffering the consequences with less avenues for guidance, Hooper said. Take Command aims to fill that gap.
